What happened, and who moved.
Owners of Seoul's ultra-high-end homes worth over 5 billion won see no reason to sell despite Korea's real estate tax reform, betting on holding out amid loan restrictions.
BELMONT, CALIF. — Voya Financial has provided a $22 million permanent loan for an undisclosed multifamily community in the Bay Area city of Belmont. Keystone arranged the financing at a fixed interest rate of 5.47 percent. Additional details of the transaction were not released. The post Voya Financial Provides…
SANTA CLARA, CALIF. — Gantry has arranged a $9.6 million permanent loan for the refinancing of a two-building, infill light industrial property in Santa Clara. Tony Kaufmann and Jake Davis of Gantry represented the borrower, a private real estate investor, in the transaction. The 10-year, fixed-rate, nonrecourse…
Image CEO Stephen Budorick discusses the company's strong operating performance, recent credit rating upgrade, and how rising U.S. defense spending is creating long-term growth opportunities.
Image CEO Jonathan Stanner anticipates additional asset sales and debt reduction.
Nonghyup mutual finance bad loans surged 5.5-fold in 4.5 years to nearly 23 trillion won. Korea's government eases rules to let co-ops clear real estate NPLs via a specialized fund.
Blackstone is buying HSBC’s A$36 billion ($25 billion) Australia home mortgage portfolio in what it calls the largest residential loan portfolio deal ever. Funds managed by Blackstone Credit & Insurance, Blackstone Tactical Opportunities, and Blackstone Real Estate Debt Strategies have... Read More>> The post…
A series of lawsuits now before Frankfurt Regional Court is shedding new light on one of Germany's more unusual real estate investment failures. Research by NDR , WDR and the Süddeutsche Zeitung has established that at least 17 statutory health insurance funds and associations of panel doctors ( KVen ) invested in…
German banks are retreating more deeply from real estate lending than many investors yet appreciate. At last week's Rueckerconsult INVESTMENT Expo in Berlin, Frederik Bräkling of Pax-Bank described a market where development finance at 50% LTV has become standard, second prolongations are increasingly common, and…
A commentary argues that Korea's central and local governments must cooperate to expand housing supply, easing relocation loan rules and speeding urban redevelopment rather than shaking the ultra-high-end market.
Blue Owl’s Stack Infrastructure leads today’s real estate headlines from around Asia Pacific as it seeks a $5.9 billion loan to fund its third Melbourne data centre. Also in the news are Australia’s Mirvac circling $441 million in Sydney and... Read More>> The post Stack Seeks $5.9B Loan for Melbourne Data Centre…
Creditors have seized a set of three Kowloon commercial floors from Schroders Real Estate, marking the third time that banks’ have taken assets from the UK fund manager in just over a year. Colliers and Savills were appointed joint agents... Read More>> The post Schroders Loses Third Hong Kong Asset to Creditors in…
Sterling Bay and a JP Morgan Asset Management fund scored a three-year, $213 million refinancing loan from Barings for the high-rise building at 360 North Green Street. The building in Fulton Market boasts 500,000 square feet of office space across its 24 stories, a 5,000-square-foot roofdeck on the fourth floor, a…
Northmarq’s San Diego Debt + Equity team led by Conor Freeman and Aaron Beck arranged a $34-million refinance of Northwoods Apartments, a 324-unit garden-style multifamily community located at 1662 W. Arrow Hwy. in Upland. Northmarq arranged the permanent-fixed financing on behalf of the borrower through the firm’s…
Slate Property Group said Friday it has closed on a new Separately Managed Account (SMA) with up to $1 billion of capital dedicated to sourcing and originating lower-leverage senior secured residential construction and bridge loans. Loans for residential developments in high-growth, transit-oriented East Coast…
Sundance Properties has sealed $25.6 million of construction financing to bring a multifamily development in Alpine, Wyo., across the finish line, Commercial Observer has learned. Izo Capital supplied the 24-month senior construction loan to fund the completion of Phase 1 of the developer’s planned the Flats at…
Chicago — Walker & Dunlop Inc. has arranged a $555.6 million loan for the refinancing of a 14-property student housing portfolio totaling 4,295 units and 10,454 beds across nine states.… The post Walker & Dunlop Arranges $555.6 Million Refinancing for 14-Property Student Housing Portfolio appeared first on Student…
An affiliate of South Korea's Hana Asset Management and Southern California's Ocean West Capital Partners has defaulted on the $88.1 million Deutsche Bank loan secured by a four-building North San Jose office campus that has sat empty since eBay walked away in 2020, clearing a path toward foreclosure on one of…
New Jersey developer Fadi Samaan has landed $23.5 million of U.S. Department of Housing and Urban Development (HUD)-backed debt to refinance a multifamily complex in Passaic, NJ., Commercial Observer has learned. Dwight Capital supplied the HUD 223(f) loan on the 104-unit Station at Passaic Phase II development,…
Pacific Retail Capital Partners defaulted on a $107.4 million loan backed by the Yorktown Center mall in Lombard, sending the suburban Chicago mall toward a deed-in-lieu of foreclosure. Los Angeles-based Pacific’s floating-rate commercial mortgage-backed securities debt transferred to special servicer KeyBank on…
Adam America Real Estate and Stellar Communities successfully refinanced the Havens at Hickory Tree Reserve, a newly completed 134-townhome build-to-rent community in St. Cloud, Florida. The joint venture secured a $35.1 million bridge loan from CoreVest American Finance Lender, LLC (“CoreVest”), replacing the…
WEST CALDWELL, N.J. — CBRE has arranged a $30.7 million loan for the refinancing of The Vail, a 92-unit apartment building in West Caldwell, about 25 miles outside of New York City. The Vail offers a mix of studio, one- and two-bedroom units, 20 percent of which are reserved as affordable housing, that feature…
FORT LAUDERDALE, FLA. — Affiliated Development has received a $74 million construction loan for the development of The Cove, a 376-unit, mixed-income multifamily project located on the northwest corner of Sunrise Boulevard and Federal Highway in Fort Lauderdale. Pacific Life Insurance Co. provided the loan for the…
BATON ROUGE, LA. — JLL Capital Markets has arranged a $42.8 million loan to refinance Bend on Bluebonnet, a 301-unit luxury community at 10231 Bluebonnet Blvd. in Baton Rouge. TWG… The post JLL Arranges $42.8M Refinancing for Bend on Bluebonnet in Baton Rouge appeared first on Multifamily & Affordable Housing…
Hotel brands and third-party operators are leaning on a previously obscure tool known as key money to boost their capital stacks in a sluggish hospitality real estate market. Key money is an up-front, forgivable loan that a brand, like Hyatt Hotels Corp....
Goldman Sachs has provided a $116 million construction loan as part of an overall $269 million financing package to facilitate the redevelopment of a long-standing Syracuse affordable housing complex, Commercial Observer can first report. The investment bank’s Urban Investment Group provided the loan on BFC…
Gantry secured a $9.65-million permanent loan to refinance maturing debt from the acquisition of a two-building, infill light industrial property located at 2290 De La Cruz Blvd in Santa Clara. Principal Tony Kaufmann and associate Jake Davis with Gantry’s San Francisco production office represented the borrower, a…
But soaring imports (data-center components), a drop in federal government spending, and changes in private inventories ate into GDP growth.
Blackstone Mortgage Trust (BXMT) reported a net loss of $81.2 million in the second quarter of 2026, but its executives were optimistic during a Thursday morning earnings call about turning its portfolio around. The publicly traded mortgage real estate investment trust (REIT) posted a second-quarter loss of 48…
Hudson Investing has secured $52.1 million in acquisition financing for Maple Knoll Apartments, a 300-unit garden-style multifamily complex just outside Indianapolis, Ind., Commercial Observer can first report. Torchlight Investment provided the equity, while Northmarq structured the full capital stack for the…
The lender that foreclosed on the Hillsboro Beach Resort has taken control of the property, winning it at auction with a $40,100 credit bid. Emerald Creek Capital acquired the oceanfront resort at 1159 Hillsboro Mile in a July 16 foreclosure sale, months after suing the ownership entities controlled by BH3…
The Dinerstein Cos. and PGIM closed on an $81 million refinancing loan for Atlas Peakview, a 330-unit multifamily community in Centennial. Mesa West Capital funded the loan in a deal arranged by Walker & Dunlop. Multihousing News reports that Atlas Peakview was delivered in 2025 and has since reached 85 percent…
GOLETA, CALIF. — Talonvest Capital has arranged a $45 million senior bridge loan to refinance a self-storage property owned by 1784 Holdings, a national self-storage owner and developer. Located in Goleta, the property comprises 95,523 net rentable square feet across 972 climate-controlled self-storage units. Extra…
Trademark Property Co. has secured a $55 million refinancing loan for Westbend, a 281,000-square-foot mixed-use campus comprising office and retail space in Fort Worth. PGIM issued the seven-year note, which retired a previous loan in the same amount originated by JP Morgan in 2016. Commercial Search reports…
Baron Property Group announced the closing of a $226.5 million refinancing for Metro Parc, the mixed-use development with rental residences, amenities and retail in Hialeah. Madison Realty Capital and Yellowstone Real Estate provided the refinancing. The financing replaces the project’s construction loan and serves…
Leeland Properties closed a Preferred Bank construction loan to restart the 146-room Element Hotel on Sacramento's Stockton Boulevard. The post Leeland Properties Restarts 146-Room Element Hotel on Sacramento’s Stockton Boulevard After Closing Preferred Bank Construction Loan appeared first on The Registry Northern…
MIDDLETOWN, N.Y. — New Jersey-based financial intermediary Cronheim Mortgage has arranged $75 million in financing for Orange Plaza, an 811,272-square-foot retail power center in Middletown, about 75 miles northwest of New York City. Walmart, Home Depot, Kohl’s and Burlington are the anchor tenants at Orange Plaza,…
TAMPA, FLA. — JLL has arranged a $55.7 million loan for 143,354 square feet of office and retail space within Midtown East, an 18-story office tower in Tampa. The property was delivered in April 2025 and represents the third and final office tower within Midtown Tampa District, a 22-acre mixed-use campus that also…
CENTRAL ISLIP, N.Y. — Greystone has provided a $16 million Fannie Mae DUS (Delegated & Underwriting Servicing) loan for the refinancing of Coventry Village, a 94-unit multifamily property in the Long Island community of Central Islip. Built in 1975 and renovated in 2011, Coventry Village is a two-building,…
Today’s housing market rewards patience over panic: With hundreds of thousands more sellers than buyers in the U.S., buyers in most of the country have time to peruse options and negotiate. U.S. pending home sales fell to their lowest level since early April during the four weeks ending July 26, dropping 1.7% in…
A one-bedroom unit at Leedon Green, a freehold development in prime District 10, went under the hammer at SRI’s property auction on July 29. The 603 sq ft unit was offered via a mortgagee sale at a guide price of $1.6 million, or $2,653 psf. The property did not find a buyer at auction and remains available. The…
The husk of John Dewberry’s Campanile Building in Midtown is now clear of debt.
Takeaway: Mortgage rates will largely stay the same for now as the Fed opts against hiking and says little about future plans. There was a historically high level of uncertainty going into this meeting, but ultimately, the Fed decided against hiking today because financial markets did their work for them. The…
New Jersey-based Greek Real Estate is bolstering its presence on the other side of the Delaware River with a new Bucks County industrial project.
MonticelloAM, along with a firm affiliate, closed a bridge loan for an apartment complex in McHenry, Illinois. The transaction was brought to MonticelloAM by Trent Niederberger of JLL Chicago. MonticelloAM Senior Managing Director Darryl Myrose worked with the JLL Chicago team on the origination of the transaction.…
Real estate private credit’s favorite Wall Street funding stream is on track for its most active year since 2021 — a sign that investors are growing more bullish on the sector’s outlook. Lenders issued $26 billion worth of collateralized loan obligations (CLOs) in the first half of 2026, according to KBRA. If it…
BXP has nearly pieced together all the money it needs for a new 930K SF office tower in Midtown Manhattan after closing on a $1.2B construction loan. The financing for 343 Madison Ave. was led by Wells Fargo, alongside Bank of America, Bank of New...
Baron Property Group (BPG) has secured $226.5 million to refinance a newly completed multifamily development in Hialeah, Fla. Madison Realty Capital and Yellowstone Real Estate provided the debt backing the 559-unit Metro Parc at 955 East 25th Street, about a block west of Metrorail and Tri-Rail transfer stations…
BXP, Inc. has closed a $1.2-billion construction loan for the development of 343 Madison Ave., a planned 46-story, approximately 930,000-square-foot office tower in Midtown Manhattan with direct access to Grand Central Terminal’s Madison Concourse. The Boston-based REIT expects to complete the $2-billion project,…
BXP, the largest Class A office owner in the country, has landed a $1.2 billion construction loan to build its 930,000-square-foot office tower development at 343 Madison Avenue in Midtown, the real estate investment trust (REIT) announced Wednesday morning during its second-quarter earnings call. The financing for…
Arrow Real Estate Advisors arranged an $85 million construction loan on behalf of Northlink Capital for the development of 7200 Collins Avenue, a 222-unit luxury condominium project in Miami Beach, Florida. The financing, provided by Deutsche Bank, refinances existing debt and will fund the ground-up construction…
CHICAGO — Associated Bank has provided a $28.3 million loan to a joint venture between North Park Ventures and SNS Realty Group for the development of a transit-oriented apartment property on North Sheffield Avenue in Chicago. The loan included funds for the acquisition of the former Tortenson Glass Co., which…
San Francisco has cleared a key hurdle for a 15-story, 187-unit affordable senior housing tower at 1939 Market Street, handing Mercy Housing California and Openhouse a 75-year ground lease as the roughly $160 million project pivots toward a make-or-break tax-credit decision this summer. The San Francisco Board of…
AirTrunk, an Australian data center operator, secured $2.33 billion in green financing for a major data center development in Johor Bahru, Malaysia.
CHICAGO — Associated Bank has provided a $29.4 million loan to a joint venture of North Park Ventures and SNS Realty Group for the development of a transit-oriented project at… The post Associated Bank Supplies $29.4M Acquisition and Development Loan for Chicago TOD appeared first on Multifamily & Affordable…
CENTENNIAL, COLO. — Mesa West Capital has provided an $81 million short-term first mortgage loan to a joint venture between The Dinerstein Cos. and PGIM. The loan will refinance Atlas… The post Mesa West Capital Delivers $81M Refinancing for Atlas Peakview in Centennial, Colorado appeared first on Multifamily &…
A median-income Seoul household earning 5 million won a month must spend 46% of income on loan repayments to buy a home, as the housing affordability index hit a three-year high of 179.3.
Sime Darby Property established a $640 million green Sukuk financing program to support data center development and expansion.
A Lauderhill-based financial firm landed a $79 million refinancing for a luxury apartment tower in downtown Hollywood. Stewards Inc. secured the new debt for 1818 Park, a 22-story, 500,000-square-foot apartment building at 1818 Hollywood Boulevard that’s 94 percent leased. The financing, which replaces existing…
Seyon Group has sealed $28.1 million of acquisition financing to purchase an 11-building industrial campus in East Hartford, Conn., Commercial Observer has learned. Northwest Bank supplied the loan for Seyon Group’s $37 million acquisition of the 428,000-square-foot Prestige Park property. The 11 warehouses that…